These days it’s so important to have an emergency fund saved up. If you’re asking yourself why having an emergency fund is important, here is why. You never know what might happen at the last minute. You might lose your job, have a sudden illness that causes you to lose work days, be in a car wreck and many other things that could knock you down. This is where those funds would come in handy.
You need to prepare yourself for whatever might suddenly happen. This way you might also find yourself able to prevent the crisis from getting worse. When you don’t have money it can cause even more stress. It can also prevent you from having to dip into other funds you might have saved, such as retirement funding.
You’re only doing yourself and your loved ones a favor when you save ahead of time.